• Twitter will strip Elon Musk in a legal dispute in Delaware

    Technology
    Twitter will strip Elon Musk in a legal dispute in Delaware

    Musk's deposition is planned for September 26–27 and could go into September 28 if necessary, according to a filing made on Tuesday in Delaware's Court of Chancery.


    Digital Desk: Twitter Inc will examine Elon Musk under swearing in Delaware next week as part of the case surrounding the billionaire's decision to walk away from his $44 billion deal for the social media business.


    According to a petition in Delaware's Court of Chancery on Tuesday, Musk's deposition is scheduled for September 26-27, with the possibility of extending through September 28 if required.


    The two sides are involved in an increasingly heated legal dispute that has engulfed some of Silicon Valley's and Wall Street's greatest figures.


    Court orders have been sent to billionaire Larry Ellison, co-founder of Oracle Corp, Intel Corp's former CEO Robert Swan, and Twitter co-founder Jack Dorsey, who is now CEO of Block Inc.


    A five-day trial in Wilmington, Delaware, is set to begin on October 17.


    Both parties have accused the other of violating the April takeover agreement. Twitter wants a judge to order Musk, the CEO of Tesla Inc and the world's richest person, to buy the firm for the agreed-upon price of $54.20 per share.


    In early Tuesday trade, shares of the San Francisco-based business were down marginally at $41.54.